高清不卡亚洲日韩av在线,欧美国产SE综合,欧美日韩亚洲乱国产综合AⅤ,极品尤物喷水超多嫩白视频

A quarterly review, papermaking most ultra expected, and printing and packaging is lower than market expectations. The performance of the first quarter basically confirmed in early 2011 to put up the cost is the main tone of this year, the proposed allocation of super papermaking, view with low packaging (see Table 1). In the two quarter, the price of paper pulp prices stable, stable prices, the appreciation of papermaking benefit, to the proposed allocation of super standard paper, toys and low with packaging, recommended order is the sun paper, Yueyang paper, Bo meeting paper, Chenming paper, toys recommended star models, packaging recommend purple Jiang enterprise.

From the perspective of industry concentration degree, the paper mills more bargaining power than printing factory. Prosperity and product supply and demand relationship is the largest, secondly, the degree of industrial concentration also determines the bargaining power, 2006~2008 years is the process significantly enhance the degree of concentration of a paper, paper product market competition, to enter in 2011, the last remaining in the enterprise concentration degree to increase substantially, with some pricing power. On the other hand, printing and packaging enterprises nearly two years the scale of production capacity rose sharply, but always in the capacity of concentration, not too big promotion, listed enterprises do not have a concentration of more than 3%, (see figure 1~3) and the upstream and downstream users of paper mills, such as food and beverage, communication and electronic business negotiation in a weak position, time predictable inside, we think that this type of enterprises in high cost will continue, it is difficult to see the essence of improved profitability.

Investment in fixed assets and fixed assets of enterprises accumulated total expansion relations, the future expansion of production capacity is limited, in June into the power stage, linerboard could become the next boom paper. We think should not be excessive attention to capacity expansion plan of micro enterprise reporting, change of plans, our observation from the investment in fixed assets and fixed assets of enterprises accumulated total expansion angle (see Figure 5), fixed asset investment growth fell significantly, and the pulp prices rose area should take the pulp line between investment, so in the future 18 months, capacity expansion of co.. From April the micro business, white cardboard is already a sign for less than seeking, for the performance of the social and business inventories fell, the price of paper rose smoothly, we observed the Nine Dragons Paper box board paper market share reached 25%, according to the industry policy, the next 2 years to expand production capacity liner board, leading at the same time slowing expansion in June to enter the power stage, small and medium-sized mills need external power supply, leading to its decline, the expected case board may become the next boom paper.

Global pulp inventory is high, up to 32 days, the two quarter of pulp prices rising momentum weakened appreciation can reduce the purchase cost of enterprises, maintain the industry optimistic about the rating, the two quarter of investors concerned about the paper industry opportunities, standard toys, with low packaging. Appreciation, the two quarter global pulp inventory is higher, so the enterprise can not transfer high pulp pulp prices quoted in dollars, the appreciation will reduce the purchase cost of enterprises.